Everence Capital Management Inc. Has $391,000 Holdings in Global Net Lease, Inc. (NYSE:GNL)

Everence Capital Management Inc. grew its stake in Global Net Lease, Inc. (NYSE:GNL) by 48.3% during the 4th quarter, HoldingsChannel reports. The firm owned 39,280 shares of the financial services provider’s stock after acquiring an additional 12,790 shares during the quarter. Everence Capital Management Inc.’s holdings in Global Net Lease were worth $391,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of GNL. Raymond James & Associates grew its stake in shares of Global Net Lease by 11.8% in the 1st quarter. Raymond James & Associates now owns 74,749 shares of the financial services provider’s stock valued at $1,176,000 after purchasing an additional 7,886 shares during the period. Bank of New York Mellon Corp grew its position in Global Net Lease by 4.5% during the 1st quarter. Bank of New York Mellon Corp now owns 1,145,077 shares of the financial services provider’s stock worth $18,013,000 after acquiring an additional 48,896 shares during the last quarter. Bank of Montreal Can grew its position in Global Net Lease by 5.3% during the 1st quarter. Bank of Montreal Can now owns 31,150 shares of the financial services provider’s stock worth $491,000 after acquiring an additional 1,581 shares during the last quarter. MetLife Investment Management LLC grew its position in Global Net Lease by 57.8% during the 1st quarter. MetLife Investment Management LLC now owns 54,350 shares of the financial services provider’s stock worth $855,000 after acquiring an additional 19,899 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Global Net Lease by 1.6% during the 1st quarter. Rhumbline Advisers now owns 317,198 shares of the financial services provider’s stock worth $4,990,000 after acquiring an additional 5,102 shares during the last quarter. 61.19% of the stock is currently owned by institutional investors.

Global Net Lease Trading Up 0.7 %

NYSE:GNL opened at $6.63 on Friday. The stock’s fifty day moving average price is $7.46 and its two-hundred day moving average price is $8.36. Global Net Lease, Inc. has a 52-week low of $6.52 and a 52-week high of $11.58. The company has a quick ratio of 0.05, a current ratio of 0.05 and a debt-to-equity ratio of 0.66.

Global Net Lease Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Thursday, April 11th were issued a dividend of $0.275 per share. This is an increase from Global Net Lease’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, April 10th. This represents a $1.10 annualized dividend and a yield of 16.60%. Global Net Lease’s dividend payout ratio is currently -63.58%.

Analysts Set New Price Targets

A number of research firms recently commented on GNL. BTIG Research lowered Global Net Lease from a “buy” rating to a “neutral” rating in a research report on Friday, March 8th. JMP Securities restated a “market perform” rating on shares of Global Net Lease in a research report on Thursday. Truist Financial assumed coverage on Global Net Lease in a research report on Thursday, March 28th. They set a “hold” rating and a $7.00 price target on the stock. Finally, BMO Capital Markets assumed coverage on Global Net Lease in a report on Tuesday, February 13th. They set an “outperform” rating and a $11.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $12.00.

Insiders Place Their Bets

In other news, major shareholder Nicholas S. Schorsch sold 20,000 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $9.00, for a total value of $180,000.00. Following the transaction, the insider now owns 4,024,330 shares of the company’s stock, valued at approximately $36,218,970. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder Nicholas S. Schorsch sold 20,000 shares of the stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $9.00, for a total value of $180,000.00. Following the transaction, the insider now owns 4,024,330 shares of the company’s stock, valued at approximately $36,218,970. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Nicholas S. Schorsch sold 176,577 shares of the stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $9.04, for a total value of $1,596,256.08. Following the completion of the transaction, the insider now directly owns 4,078,465 shares in the company, valued at approximately $36,869,323.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 201,414 shares of company stock valued at $1,819,305. 0.22% of the stock is currently owned by corporate insiders.

About Global Net Lease

Global Net Lease, Inc (NYSE: GNL) is a publicly traded real estate investment trust listed on the NYSE focused on acquiring a diversified global portfolio of commercial properties, with an emphasis on sale-leaseback transactions involving single tenant, mission critical income producing net-leased assets across the United States, Western and Northern Europe.